Down day in the Market as SPY finally closed below strong 20 MA support. Next support is on 50 MA 197 /197.50 area.
Even in broader market weakness, plenty of low float or IPO stocks stock in play , Speculative money still out there,iIf you see IPO name like RWLK, it went from $11.50 low to $30 in one trading day ! As always out trading still going be focusing on momentum stocks that are in play on the day. Another great week in Bulls chat room with real time alerts gaining $11,900 for the week!If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders.
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See below some of the entries and intraday pattern we played in the chat.
Hi Sayed, could you explain that CGA trade entry a little more- Im really struggling with understanding the risk sizing with these powerful opening trades that don’t necessarily have an intraday pattern yet that you and Kunal often enter. Was your trigger to enter just the fact that it cleared a prev daily high (resistance)? Where would your stop have been? What time-frame chart did you enter off of- still 5min? Thank you very much! Great watchlist as always
Low floater China name , gap up with volume. This type running lately! Enter on 1min ORB, stop lod. Sometime trading is more of an art than science.
@SZAMAN: how do you always gather your WL … are there any certain filtering criteria that you are using or is it just going through all the momo stocks and noting what looks good to you?
Thanks for clearing it up
I run some scans than go through them manually.